BANKNIFTY - 15 MIN - FOR 17/03/2022 - TRADE SETUP

Hello Traders,

Today BANKNIFTY gave a GAP UP opening above the previous week high.

But it can't BREAK the 35800 level, As the PRICE CONSOLIDATES near that zone for the whole day making it a very strong zone.

***** NOTE : Whenever PRICE consolidates and give a BREAKOUT it gives Strong movement towards the breakout side. *****

So, tomorrow we will ENTRY only after the BREAKOUT of that consolidation.

Even when the 35800 level was a strong RESISTANCE today price never reversed but it CONSOLIDATED there so it may be sign of some bullishness today.

1) GO LONG only after 35800 level breakout & retest.

TARGET ----> 36155

2) GO SHORT only when 35375 level breakdown & retest
GAP FILL may happen which will be our ADVANTAGE.

TARGET ----> 35000


Do comment your thoughts...

Thank you <3